vulture fund

English

Noun

vulture fund (plural vulture funds)

  1. (derogatory) A hedge fund or private equity fund that invests in debt considered to be very weak or in imminent default. Investors profit by buying debt at a discounted price on a secondary market and then suing the debtor for a larger amount than the purchasing price.
    • 2018, Ilias Bantekas; Cephas Lumina, Sovereign Debt and Human Rights, Oxford University Press, →ISBN, page 498:
      This chapter discusses current official initiatives designed to curb vulture fund litigation and proposes a rethinking of the doctrine of sovereign immunity as a key measure to curb the predatory behaviour of vulture funds.

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